The cereal-based food industry faces the challenge to produce food of high and uniform quality to meet consumer demands. However, adverse weather conditions, including prolonged and repeated rainfall, before harvest time evoke germination of the kernels in the ear of the parent plant, which is known as preharvest sprouting (PHS). PHS results in the production of several hydrolytic enzymes in the kernel, which decreases the technological quality of wheat and causes problems during processing of the flour into cereal-based products. Therefore, wheat that is severely sprouted in the field is less suitable for products for human consumption, and is often discounted to animal feed. Up till now, most knowledge on PHS is obtained by research on laboratory-sprouted wheat as a proxy for field-sprouted wheat. Knowledge on PHS in the field itself is more scarce. This review gives a comprehensive overview of the recent findings on PHS of wheat in the field, compared to knowledge on controlled sprouting. The physiological and functional changes occurring in wheat during PHS and their impact on wheat and bread quality are discussed. This review provides a useful background for further research concerning the potential of field-sprouted wheat to be used as raw material in the food industry.